Lakewood Asset Management LLC Cuts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Lakewood Asset Management LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,570 shares of the semiconductor manufacturer’s stock after selling 112 shares during the quarter. Lakewood Asset Management LLC’s holdings in Broadcom were worth $828,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Kades & Cheifetz LLC increased its holdings in Broadcom by 0.8% during the 4th quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock worth $1,536,000 after purchasing an additional 51 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Broadcom by 0.5% in the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock valued at $2,222,000 after acquiring an additional 52 shares in the last quarter. HCR Wealth Advisors raised its holdings in Broadcom by 0.4% in the fourth quarter. HCR Wealth Advisors now owns 12,322 shares of the semiconductor manufacturer’s stock valued at $2,857,000 after acquiring an additional 53 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Broadcom by 2.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after acquiring an additional 59 shares during the last quarter. Finally, Meyer Handelman Co. grew its holdings in Broadcom by 2.0% during the 4th quarter. Meyer Handelman Co. now owns 3,073 shares of the semiconductor manufacturer’s stock worth $712,000 after acquiring an additional 59 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVGO. Rosenblatt Securities restated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Benchmark reaffirmed a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Piper Sandler raised their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, UBS Group boosted their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Broadcom Price Performance

Shares of Broadcom stock opened at $237.44 on Friday. Broadcom Inc. has a 52 week low of $112.19 and a 52 week high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $200.93 and its two-hundred day moving average price is $177.60. The stock has a market cap of $1.11 trillion, a PE ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Buying and Selling

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.